Kindly MD (NASDAQ:KDLY) Shares Down 22.3% - What's Next?

Key Points

• Shares of Kindly MD, Inc. (NASDAQ:KDLY) dropped 22.3% on Wednesday, closing at $11.09 after a significant reduction in trading volume.
• The company's market cap is currently $66.78 million, with a P/E ratio of -14.40, indicating potential concerns about profitability.
• Institutional investors such as Geode Capital Management have increased their stakes, with Geode acquiring an additional 8,386 shares valued at approximately $484,000.

Kindly MD, Inc. (NASDAQ:KDLY - Get Free Report) shares were down 22.3% during mid-day trading on Wednesday . The stock traded as low as $10.16 and last traded at $11.09. Approximately 1,212,564 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 2,293,123 shares. The stock had previously closed at $14.28.

Kindly MD Trading Down 9.0%

The company has a 50 day simple moving average of $12.25 and a 200-day simple moving average of $7.85. The stock has a market cap of $82.32 million and a price-to-earnings ratio of -17.75.

Institutional Trading of Kindly MD

A number of hedge funds and other institutional investors have recently modified their holdings of KDLY. Cetera Investment Advisers increased its position in Kindly MD by 206.2% during the first quarter. Cetera Investment Advisers now owns 230,794 shares of the company's stock worth $372,000 after buying an additional 155,425 shares during the last quarter. Rathbones Group PLC bought a new stake in Kindly MD in the 2nd quarter valued at $1,523,000. Ground Swell Capital LLC bought a new stake in Kindly MD in the 4th quarter valued at $28,000. Finally, Geode Capital Management LLC boosted its stake in Kindly MD by 76.2% in the 2nd quarter. Geode Capital Management LLC now owns 19,394 shares of the company's stock valued at $484,000 after purchasing an additional 8,386 shares during the period.

Kindly MD Company Profile

Kindly MD, Inc provides healthcare services. Its services include medication management, behavioral healthcare and alternative treatments. The firm offers evaluation and management, including chronic pain, functional medicine, cognitive behavioral therapy, trauma and addiction therapy, recovery support services, overdose education efforts, peer support, limited urgent care, preventative medicine, travel services, and hormone therapy.